<p>Paylocity Holding (PCTY) 在过去一周悄然上涨，尽管其长期回报仍然为负，这种情况引发了对近期强劲表现是否可持续的深入探讨。</p>
<p>请查看我们对 Paylocity Holding 的最新分析。</p>
<p>最近一周的股价回报为 2.98%，仅稍微削弱了 Paylocity Holding 年初至今的股价下跌。1 年总股东回报为负 24.62%，显示出尽管收入和利润稳步增长，长期动能仍然承压。</p>
<p>如果您在考虑 Paylocity 最近的反弹是否符合您的策略，可以通过高增长科技和人工智能股票与其他快速发展的机会进行比较。</p>
<p>尽管过去 12 个月股价大幅下跌，但目前交易价格相对于分析师目标价仍有显著折扣，关键问题是 Paylocity 是否真正被低估，还是市场已经在定价未来的增长。</p>
<h2>最受欢迎的叙述：22.3% 被低估</h2>
<p>Paylocity Holding 最近收盘价为 150.89 美元，而叙述的公允价值接近 194 美元，目前的差距取决于特定的长期增长和利润率假设。</p>
<blockquote>
<p><em>强劲的客户留存率（92%+）和新模块（包括 Paylocity for Finance）的加速交叉销售正在带来稳定的利润率扩张和改善的运营杠杆，调整后的 EBITDA 利润率和自由现金流的上升证明了这一点，这可能导致未来净利润率的提高。</em></p>
</blockquote>
<p>阅读完整的叙述。</p>
<p>好奇如何稳定的中等十几的收益增长、严谨的利润率扩张和更高的未来收益倍数能够在一个故事中共存？看看是什么推动了这个估值路线图，以及叙述认为 Paylocity 的收益基础在未来几年将落在哪里。</p>
<p><strong>结果：公允价值为 194.16 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，收入指引放缓和来自更大 HCM 竞争对手的激烈竞争可能会挑战 Paylocity 的增长叙述，并压缩其估值中的溢价。</p>
<p>了解 Paylocity Holding 叙述的关键风险。</p>
<h2>估值的另一种视角</h2>
<p>虽然叙述表明 Paylocity 大约被低估 22%，但其 36.4 倍的市盈率则呈现出更严峻的局面。这一倍数相对于美国专业服务行业的 25 倍和同行的 18 倍而言显得较高，甚至远高于 27 倍的公允比率，暗示如果市场情绪降温，存在实际的下行风险。</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/afa0e66b-3909-4395-b5aa-969dcb9e911f/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/afa0e66b-3909-4395-b5aa-969dcb9e911f/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的 NasdaqGS:PCTY 市盈率</p>
<h2>构建您自己的 Paylocity Holding 叙述</h2>
<p>如果您对这个故事有不同的看法或更喜欢自己深入数字，您可以在几分钟内构建个性化的视图，按您的方式进行。</p>
<p>一个好的起点是我们的分析，强调投资者对 Paylocity Holding 的 3 个关键回报的乐观预期。</p>
<h2>准备好进行下一次投资行动了吗？</h2>
<p>不要停留在单一股票上，当您可以快速扫描更聪明的机会、比较优势，并在下一波市场领导者之前调整您的投资组合时。</p>
<ul>
<li>通过审查这些 908 只基于现金流的被低估股票，利用错误定价的优质股票，这些股票可能相对于其长期现金流潜力提供有吸引力的上行空间。</li>
<li>通过瞄准这 26 只 AI 小盘股，利用创新的势头，这些股票有望从各行业加速采用人工智能中受益。</li>
<li>通过关注这些 13 只收益率超过 3% 的分红股票，锁定潜在的收入来源，这些股票可以通过持续的现金支付增强您的回报。</li>
</ul>
<p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

Paylocity控股

<p>Paylocity 控股（PCTY）在过去一周的股价反弹了 2.98%，尽管年初至今仍有所下滑。分析师认为其被低估了 22.3%，合理价值为 194.16 美元，但对其 36.4 倍的高市盈率相较于行业同行表示谨慎。强劲的客户留存率和利润率扩张是积极因素，但收入指引放缓和竞争带来了风险。投资者被鼓励探索其他被低估的股票和人工智能机会</p>

<p>Paylocity Holding (PCTY) has quietly inched higher over the past week even as its longer term returns remain negative, a setup that invites a closer look at whether the recent strength is sustainable.</p>
<div class="lb-trans"><p>Paylocity Holding (PCTY) 在过去一周悄然上涨，尽管其长期回报仍然为负，这种情况引发了对近期强劲表现是否可持续的深入探讨。</p>
</div><p>See our latest analysis for Paylocity Holding.</p>
<div class="lb-trans"><p>请查看我们对 Paylocity Holding 的最新分析。</p>
</div><p>That recent 1 week share price return of 2.98 percent only slightly chips away at Paylocity Holding's year to date share price decline. The 1 year total shareholder return of negative 24.62 percent shows longer term momentum is still under pressure despite steady revenue and profit growth.</p>
<div class="lb-trans"><p>最近一周的股价回报为 2.98%，仅稍微削弱了 Paylocity Holding 年初至今的股价下跌。1 年总股东回报为负 24.62%，显示出尽管收入和利润稳步增长，长期动能仍然承压。</p>
</div><p>If you are weighing whether Paylocity's recent bounce fits your strategy, it can help to compare it with other fast moving opportunities via high growth tech and AI stocks.</p>
<div class="lb-trans"><p>如果您在考虑 Paylocity 最近的反弹是否符合您的策略，可以通过高增长科技和人工智能股票与其他快速发展的机会进行比较。</p>
</div><p>With shares still down sharply over 12 months yet trading at a meaningful discount to analyst targets, the key question now is whether Paylocity is genuinely undervalued or if the market is already pricing in future growth.</p>
<div class="lb-trans"><p>尽管过去 12 个月股价大幅下跌，但目前交易价格相对于分析师目标价仍有显著折扣，关键问题是 Paylocity 是否真正被低估，还是市场已经在定价未来的增长。</p>
</div><h2>Most Popular Narrative Narrative: 22.3% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：22.3% 被低估</h2>
</div><p>With Paylocity Holding last closing at $150.89 versus a narrative fair value near $194, the current gap hinges on specific long term growth and margin assumptions.</p>
<div class="lb-trans"><p>Paylocity Holding 最近收盘价为 150.89 美元，而叙述的公允价值接近 194 美元，目前的差距取决于特定的长期增长和利润率假设。</p>
</div><blockquote>
<p><em>Strong client retention (92%+) and accelerating cross sell of new modules (including Paylocity for Finance) are yielding steady margin expansion and improved operating leverage, evidenced by rising adjusted EBITDA margins and free cash flow, which could lead to higher net margins in the future.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>强劲的客户留存率（92%+）和新模块（包括 Paylocity for Finance）的加速交叉销售正在带来稳定的利润率扩张和改善的运营杠杆，调整后的 EBITDA 利润率和自由现金流的上升证明了这一点，这可能导致未来净利润率的提高。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整的叙述。</p>
</div><p>Curious how steady, mid teens earnings growth, disciplined margin expansion, and a richer future earnings multiple can all coexist in one story? See what powers this valuation roadmap and where the narrative thinks Paylocity’s earnings base will land a few years from now.</p>
<div class="lb-trans"><p>好奇如何稳定的中等十几的收益增长、严谨的利润率扩张和更高的未来收益倍数能够在一个故事中共存？看看是什么推动了这个估值路线图，以及叙述认为 Paylocity 的收益基础在未来几年将落在哪里。</p>
</div><p><strong>Result: Fair Value of $194.16 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 194.16 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, slowing revenue guidance and tougher competition from larger HCM peers could challenge Paylocity's growth narrative and compress the premium embedded in its valuation.</p>
<div class="lb-trans"><p>然而，收入指引放缓和来自更大 HCM 竞争对手的激烈竞争可能会挑战 Paylocity 的增长叙述，并压缩其估值中的溢价。</p>
</div><p>Find out about the key risks to this Paylocity Holding narrative.</p>
<div class="lb-trans"><p>了解 Paylocity Holding 叙述的关键风险。</p>
</div><h2>Another Lens on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种视角</h2>
</div><p>While the narrative suggests Paylocity is around 22 percent undervalued, its 36.4 times earnings multiple paints a tougher picture. That is rich versus both the US Professional Services industry at 25 times and peers at 18 times, and even sits well above a 27 times fair ratio, implying real downside risk if sentiment cools.</p>
<div class="lb-trans"><p>虽然叙述表明 Paylocity 大约被低估 22%，但其 36.4 倍的市盈率则呈现出更严峻的局面。这一倍数相对于美国专业服务行业的 25 倍和同行的 18 倍而言显得较高，甚至远高于 27 倍的公允比率，暗示如果市场情绪降温，存在实际的下行风险。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/afa0e66b-3909-4395-b5aa-969dcb9e911f/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/afa0e66b-3909-4395-b5aa-969dcb9e911f/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:PCTY PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的 NasdaqGS:PCTY 市盈率</p>
</div><h2>Build Your Own Paylocity Holding Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 Paylocity Holding 叙述</h2>
</div><p>If you see the story differently or prefer to dig into the numbers yourself, you can build a personalized view in just minutes, Do it your way.</p>
<div class="lb-trans"><p>如果您对这个故事有不同的看法或更喜欢自己深入数字，您可以在几分钟内构建个性化的视图，按您的方式进行。</p>
</div><p>A good starting point is our analysis highlighting 3 key rewards investors are optimistic about regarding Paylocity Holding.</p>
<div class="lb-trans"><p>一个好的起点是我们的分析，强调投资者对 Paylocity Holding 的 3 个关键回报的乐观预期。</p>
</div><h2>Ready for your next investment move?</h2>
<div class="lb-trans"><h2>准备好进行下一次投资行动了吗？</h2>
</div><p>Do not stop at a single stock when you can quickly scan smarter opportunities, compare strengths, and position your portfolio ahead of the next wave of market leaders.</p>
<div class="lb-trans"><p>不要停留在单一股票上，当您可以快速扫描更聪明的机会、比较优势，并在下一波市场领导者之前调整您的投资组合时。</p>
</div><ul>
<li>Capitalize on mispriced quality by reviewing these 908 undervalued stocks based on cash flows that may offer attractive upside relative to their long term cash flow potential.</li>
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<li>Lock in potential income streams by focusing on these 13 dividend stocks with yields &gt; 3% that can strengthen your returns through consistent cash payouts.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过审查这些 908 只基于现金流的被低估股票，利用错误定价的优质股票，这些股票可能相对于其长期现金流潜力提供有吸引力的上行空间。</li>
<li>通过瞄准这 26 只 AI 小盘股，利用创新的势头，这些股票有望从各行业加速采用人工智能中受益。</li>
<li>通过关注这些 13 只收益率超过 3% 的分红股票，锁定潜在的收入来源，这些股票可以通过持续的现金支付增强您的回报。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

Paylocity 控股 (PCTY)：在股价小幅回升后评估其估值